The Hindu Business Line : Tuesday, October 07, 2003

UAE Exchange upbeat on NRI fund transfer
PROVIDING speed, convenience and security of transactions, the Xpress Money Service of UAE Exchange company is proving to be a modern and reliable way of sending and receiving money from anywhere in the world, especially among the immigrant ... More

AWARDS & HONOURS

Global Trust Bank bags award for technology usage
GLOBAL Trust Bank (GTB) has been presented the best in `microbanking' award by Microbanker Inc. The award is given annually to financial institutions that exhibit outstanding use of technologies to improve services. GTB has won the award for ... More

INSIGHT

Asian currencies: New global scapegoats
America's twin deficits, many economists fear, would lead to a collapse of the dollar and global recession. In their desperation to find a solution, they have turned their attention to Asia, with the demand that governments, especially the Chinese Go vernment, should revalue exchange rates, so that adjustment in the US would be smooth and growth would be triggered in Europe and Japan. In this edition of Macroscan, C. P. Chandrasekhar and Jayati Ghosh assess this effort to fin d new whipping boys to conceal American sins. More

RIB redemption — Mere blip on rupee radar
THE redemption process for the Resurgent India Bond is underway. A sum of $5.5 billion will be available for banks to mobilise as deposits. In this connection, the State Bank of India, Union Bank and Punjab National ... More

FOREX

Rupee down 5 paise; securities rally
MUMBAI: The rupee on Monday closed 5 paise weaker with the global strengthening of the dollar against all international majors. The greenback is said to risen on positive employment figures from the US. The rupee ended the day at ... More

INFORMATION TECHNOLOGY

Andhra Bank ties up with IDBI Bank
The tie-up would allow Andhra Bank access to about 290 ATM outlets of IDBI Bank. More

STOCKS

ICICI Bank ADR hits year-high
THE ADR of ICICI Bank today flared up at open on the New York Stock Exchange. The ADR, which represents two local shares, hit a year-high of $14.65 before settling back to trade at $12.44 at 10.38 a.m. New York time. It also saw a record volume ... More

CONSUMER FINANCE

P&SB launches special festival loan scheme

LIFE INSURANCE

Dual regulators soon for life insurers with pension plans
Life insurers have been keenly watching for developments on PFRDA since virtually all of them, including Life Insurance Corporation, already have one or more pension schemes in their bouquet of products on offer. More

SBI Life launches assured returns policy — Targeting redeemed RIB proceeds with NRIs
IN keeping with the State Bank Group's endeavours to encourage the reinvestment of Resurgent India Bonds proceeds, SBI Life Insurance Company Ltd on Monday introduced ``Setubandhan'', a policy with an assured return of 5 per cent per annum on the ... More

ICICI Prudential opens branch in Vizag
VISAKHAPATNAM: ICICI Prudential, one of the leading private life insurance companies, is offering a variety of need-based insurance solutions and products to customers to increase its market share, Mr Mukesh Dhawan, National Agency Head, ... More

PRIVATE BANKS

Dhanalakshmi Bank to sell UI products
THE Chennai-based United India Insurance Company Ltd (UIICL) has signed an MoU with the Kerala-based Dhanalakshmi Bank Ltd for marketing their insurance products through the bank. The Bank would act as a corporate agent of the insurer besides ... More

PUBLIC SECTOR BANKS

SBI offers mobile top-up facility

PEOPLE

IDBI Bank accepts Bimbhet's papers
The board of directors is said to have finalised a person to head the bank and is awaiting RBI approval. More

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